On January 1, 2008, Omega Corporation issued a three-year, $1,000 bond with a nominal interest rate of

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On January 1, 2008, Omega Corporation issued a three-year, $1,000 bond with a nominal interest rate of 9%. At the time, the market rate of interest was 9%. The company’s issue price for the bond would be

a. $1,000.

b. $1,300.

c. $1,025.

d. $700.

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